Comptroller calculates 2 percent tax cap for 2019

Municipalities will face a 2 percent tax cap for the 2019 fiscal year, according to state Comptroller Thomas P. DiNapoli.

Local governments will only need a majority vote to approve tax increases below the cap, while a super majority of 60 percent is needed to go higher. The comptroller’s office said the calculation affects all counties, towns and fire districts, 44 cities and 10 villages.

“For these local governments, allowable levy growth will be 2 percent for the first time since 2013,” DiNapoli said in a statement. “Despite the possibility of increased tax revenue, municipal budgets will still be vulnerable to rising fixed costs and potential federal funding cuts. Local officials should proceed cautiously when crafting their spending plans for next year.”

The tax cap is set at either 2 percent or the rate of inflation, depending on which is lower. Municipalities with a calendar fiscal year had a cap of less than 2 percent between 2014 and 2018, according to the comptroller’s office.